Bankwest Equaliser Home Loan Bankwest Equaliser Home Loan LVR <80% >$200K (Principal & Interest) (Owner Occupied)

  • 4.32%
    p.a Standard Variable
  • 4.33%
    p.a Comparison**
  • $250
    Upfront fees
  • $0
    Annual fees
  • 80%
    Max LVR
  • $1,910
    Per Month*

About Bankwest

Established in 1895 the Agricultural Bank of Western Australia by the WA Government, this financial institution was set to service the needs of the state’s farmers only. Now called BankWest, they have expanded to service customers nationwide, determined to get to know their clients, not just their banking, no matter where they’re located in Australia. BankWest have both business and home loan banking specialists who are dedicated to tailor make banking solutions and packages for each individual scenario. BankWest’s motto is to make banking easier and are driven by this value.

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
rate per annum

Loan to Value Ratio

Borrow up to the maxium of 80% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Capitalise LMI


For Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.

3 - 30 years


The level of financial documentaion and credit history required to apply for the loan.

Full Doc
Credit History
Genuine Saving

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Min Redraw
Redraw fee

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
Redraw Available
Internet Banking
Telephone Banking
Credit Card
BPay Option
Portability of Loan
Professional Pack
Check Account
Direct Salary Credit
Free Transactions
Minimum Redraw
Redraw Fee


You can make your repayments Fortnightly, Monthly, and Weekly.

Interest Only Option
Max Interest Only
0 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.


Ongoing Fees

Monthly and annual fees and charges during the loan period.


Exit Fees

Fees associated with prematurely ending the loan.

Early Repayment
Switch To Fixed


Bankwest Equaliser Home Loan is a three-year introductory product that offers a fixed discount off the average standard variable rate of three major banks. Available to both owner occupiers and investors for new lending above $200k and <80% LVR with principal & interest repayments only, the Equaliser will be a no-frills home loan without complex features such as offset accounts, increases, interest only repayments, construction or lending to non-personal entities. Conditions apply. Principal & Interest Only (Interest Only is not permitted during the intro period) $200k (splits below $200k are not permitted) Offset is NOT permitted during the introductory term but can be linked once the product rolls to the Mortgage Shredder Home Loan. Construction purpose is not permitted, customers considering construction may wish to consider another product e.g. CHLP/PSHL. Go to product: Mortgage Shredder. Personal name borrowers only (not available to companies or trusts) Customers wishing to increase their Equaliser Facility will need to change to a non-intro product or take a split for the increased amount. The split can be a new Equlaiser product. Existing customers cannot transfer to this product as it is only available for new lending. Transfers from Equaliser to another non-intro product are permitted at any time. ($95 HLT fee applicable) The maximum LVR that will be considered for applications for investment lending where the borrower(s) either live overseas, or where a temporary resident / overseas citizen is involved, is 60%. Redraw - Minimum $1000, $10 fee per time over the counter. No fees if online redraw.

LVR Notes

No LMI required for <80%

Fee Notes

Loan Increase Fee $295 Transfers to another non-intro product incur $95 HLT fee. Effective Friday, 3 February 2017 the application fee of $695 on the Equaliser Home Loan will be waived until further notice. The waiver will apply to applications submitted on or after 3 February 2017.

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided